Cisco Announces Agreement to Acquire Five Across
Five Across technology to help enhance Cisco customers’ website experience
SAN JOSE, Calif., February 9, 2007 - Cisco Systems, Inc., (NASDAQ: CSCO) today announced a definitive agreement to acquire privately held Five Across, Inc. of San Francisco, Calif., a leading vendor in the social networking marketplace.
The Five Across platform, Connect Community Builder, empowers companies to easily augment their websites with full-featured communities and user-generated content such as audio/video/photo sharing, blogs, podcasts, and profiles. These user-interaction functions help companies improve the interaction with their customers and overall customer experience on their websites. Social networking functions are of unique interest to media companies, sports leagues, affinity groups and any organization wishing to increase its interaction with its online constituency.
“Cisco believes the network is the platform for organizations to connect with their constituents and for individuals to connect with each other,” said Dan Scheinman, senior vice president and general manager of the Cisco Media Solutions Group (CMSG). “With the acquisition of Five Across, Cisco is taking an important step towards helping its customers evolve their website experience into something more relevant and valuable to the end-user.”
Five Across was founded in 2003 and has 11 employees in San Francisco, Calif.. Upon close of the transaction the Five Across team and product portfolio will be integrated into CMSG led by Scheinman.
The terms of the acquisition were not disclosed. The acquisition is subject to various standard closing conditions and is expected to close in the third quarter of Cisco’s fiscal year 2007, ending April 28, 2007.
For more information about the Cisco Media Solutions Group, go to: http://www.cisco.com/go/media.
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Cisco, (NASDAQ: CSCO), is the worldwide leader in networking that transforms how people connect, communicate and collaborate. Information about Cisco can be found at http://www.cisco.com. For ongoing news, please go to http://newsroom.cisco.com.
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